Friday, January 16, 2009

Another one bites the dust

Circuit City_Exterior - Store Front

Circuit City, Jonesboro's only consumer electronics store (no Best Buy closer than Memphis) is closing.

Company officials announced today they will close their remaining 567 U.S. stores, throwing 30,000 employees out of work.

The has hired a liquidating firm to dispose of its assets. Employees were being told today they are losing their jobs and, if a judge gives final approval for liquidation, stores could begin the closing process as early as tomorrow.

I will, of course, be on high alert for deals on iPods and such.

The company file for bankruptcy protection last year and closed 155 stores in November.

Circuit City also has 765 retail stores and dealer outlets in Canada. Their fate remains undecided, but clouded.

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